Integrated advertising agency Osprey London and MBS Media have formed a new media planning and buying shop with billings of at least 17m.
The 50/50 joint venture called Halo has been brokered by the AAR Group. It will be resourced and staffed by MBS but will handle Osprey’s existing media business that is not already committed to other agencies. It will also pitch on Osprey’s behalf for new business.
Halo will be headed by Osprey’s media director Mike Loveridge and a member of the MBS board.
Chris Still, chief executive of Osprey, says: “We have not been able to keep up with the enormous investment in media research, information and personnel. Instead, at a stroke, we’ve got MBS, a top 20 media agency. [The joint venture] harnesses the excellent resources of MBS in particular in the financial and retail area. We will be approaching our clients to discuss the benefits.”
Osprey clients include Furniture Village, Vauxhall and Commission for the New Towns. MBS handles Air Jamaica, Norwich Union and Michelin Tyres.